1. Field of the Invention
This invention pertains to an automated financial data disclosure system, but more specifically, to a method and apparatus for audibly eliciting input information and for audibly announcing financial disclosure information computed on the basis of the input information.
In the business of dealing with, lending or managing financial accounts of any kind, such as investments, annuities, insurance and IRA accounts, where the transaction depends on such factors as amortization, interest rates, reserve fees, etc., it is often desired to learn how these factors affect terms of the transaction in order to intelligently decide whether the transaction is desirable in terms of affordability or profitability. In many prior art systems, schedules or tables contained in books and the like are used to provide some indication of the terms. Usually, these tables are only estimates and are not as precise as the terms ultimately processed by a centrally located processing system where accurate terms and conditions of the transactions are revealed.
With the advent of microcomputers, this same information can be had quickly and precisely, however, the use of such microcomputers have presented some difficulties, most noteably in the area of "man-machine interface", i.e., the transfer of data between the user and the machine. Many prior systems attempt to design "user friendliness" in the machine, particularly by providing speech capability therein. In doing so, one difficulty experienced is attaining high quality speech output that is intelligible and has the flexibility to accommodate the nature of the transaction. Another difficulty is providing an easily understood interactive capability.
A prior financial disclosure system employing synthesized speech is disclosed in U.S. Pat. No. 4,369,334 to Nakatani et al. In the Nakatani et al system, an electronic cash register is equipped with synthetic speech means for audibly announcing the total amount of transaction and the change to be handed a customer in response to information supplied by a user via a keypad. Rather than generating segments of speech in the nature of phonemes to produce an audio announcement of the transaction, Nakatani et al employs a storage module for storing pre-recorded speech data, a portion thereof being selected in dependence on the calculated total amount of the transaction or the change. Moreover, the Nakatani et al system is operated locally, rather than from a remote location and thus is not suitable for eliciting input information or for coupling and responding to various conventional telephone exchange control signals.
U.S. Pat. Nos. 4,211,892 and 4,276,444 both being issued to Tanimoto et al each disclose synthetic speech calculators for generating audible sound signals that produce speech in response to calculated numerical information supplied via a keyboard. Again, the Tanimoto et al systems are operated locally, rather than remotely, and do not possess mechanisms for audibly eliciting input information from which additional financial information is to be calculated and transferred remotely by audible means. Further prior art is also disclosed in U.S. Pat. Nos. 4,016,540 and 4,060,848 each being issued to Hyatt. The Hyatt systems show an interactive data processing control system employing synthesized speech for communicating with an operator either remotely or locally. The Hyatt systems primarily are used for generating control signals to control a device in response to information input by keying means or audio means, however, no means for audibly eliciting information is disclosed.
2. Objects
In view of the foregoing, it is a primary objective of the present invention to provide system for audibly eliciting certain input information, for calculating output information on the basis of the input information, and for audibly announcing the results of the calculated output information to a user at a remote location.
It is another objective of the present invention to provide an automated financial disclosure system for audibly quoting financial data in response to user identification and input information.
It is a further objective of the present invention to provide an automated financial disclosure system suitable for use with conventional telephone networks whereby the same may be operated remotely.
It is yet a further objective of the present invention to provide an automated financial disclosure system for generating disclosure data and for storing the same for later recall when a financial transaction associated with the disclosure information is consummated.
It is still another objective of the present invention to facilitate the entry of input parameters constituting the input information by providing means for audibly verifying the same as it is received by the system thereby to enable correction when a mistake is made.
Finally, without limitation, it is a further objective of the present invention to provide an automated financial disclosure system having such flexibility as to enable a user thereof to obtain recalculations of disclosure information based upon new input information and, once performed, to obtain an audible quotation thereof.